Gemina S.p.A. – AdR S.p.A.

Clessidra Private Equity - Gemina S.p.A. – Aeroporti di Roma S.p.A. (AdR)


Gemina S.p.A., now merged in Atlantia S.p.A., is the company that controls Aeroporti di Roma S.p.A. (AdR). AdR S.p.A. operates the Rome airport system (Fiumicino and Ciampino), and is the leading airport operator in Italy and one of the major ones in Europe. The investment was realised in 2010.

Investment thesis

By simplifying the shareholding structure of the group, Clessidra Private Equity unlocked the value of Gemina by divesting its non-core assets and focussing on the core airport activities of Aeroporti di Roma , the largest airport network in Italy.

portfolio company

Company: Gemina S.p.A. – AdR S.p.A.

portfolio investment date

Investment status: Realized

Investment date: 12/2005

Data of exit: 02/2010

portfolio company sector

Sector: Infrastructure holding company

portfolio ownership

Initial Ownership: 6.3%